user
Explain the importance of the given city in terms of global trade.
Shanghai

assistant
Shanghai is an important city for global trade. It is the busiest port in the world, handling over 40% of containerized cargo in China. It is home to the world's largest free-trade zone, the Shanghai Free Trade Zone. It is also one of the most important financial centers in the world, due to the presence of the Shanghai Stock Exchange. Additionally, it is a major hub for transportation and communication, as it is home to the world’s first transoceanic fiber optic submarine cables. These factors make Shanghai an important city in terms of global trade.